Advocacy Wealth Management Services LLC Raises Position in Apple Inc. (NASDAQ:AAPL)

Advocacy Wealth Management Services LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,337 shares of the iPhone maker’s stock after buying an additional 52 shares during the period. Advocacy Wealth Management Services LLC’s holdings in Apple were worth $193,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Cavalry Management Group LLC increased its position in shares of Apple by 442.0% in the fourth quarter. Cavalry Management Group LLC now owns 132,260 shares of the iPhone maker’s stock worth $15,318,000 after buying an additional 107,860 shares during the period. Exchange Capital Management Inc. increased its position in Apple by 0.4% in the fourth quarter. Exchange Capital Management Inc. now owns 86,396 shares of the iPhone maker’s stock worth $10,006,000 after buying an additional 380 shares during the last quarter. Edge Asset Management Inc. increased its position in Apple by 3.4% in the fourth quarter. Edge Asset Management Inc. now owns 2,493,609 shares of the iPhone maker’s stock worth $288,810,000 after buying an additional 82,784 shares during the last quarter. Advisory Research Inc. increased its position in Apple by 28.2% in the fourth quarter. Advisory Research Inc. now owns 11,342 shares of the iPhone maker’s stock worth $1,314,000 after buying an additional 2,495 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC bought a new position in Apple during the fourth quarter worth about $357,000. 61.50% of the stock is currently owned by institutional investors.

Apple Inc. (NASDAQ AAPL) opened at 157.50 on Friday. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.51. The stock has a market capitalization of $813.52 billion, a PE ratio of 17.88 and a beta of 1.31. The stock’s 50 day moving average is $151.99 and its 200 day moving average is $145.63.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Apple Inc. will post $9.02 EPS for the current year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is currently 28.64%.

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A number of research analysts recently issued reports on AAPL shares. Oppenheimer Holdings, Inc. reiterated a “” rating on shares of Apple in a research report on Thursday, August 10th. Nomura set a $165.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Maxim Group upped their target price on shares of Apple from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Drexel Hamilton reiterated a “buy” rating and issued a $185.00 target price on shares of Apple in a research note on Tuesday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $165.00 price target on shares of Apple in a research report on Tuesday, April 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $167.38.

In other Apple news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the sale, the senior vice president now owns 76,250 shares in the company, valued at approximately $12,367,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the transaction, the senior vice president now directly owns 112,430 shares in the company, valued at $17,778,555.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,640 shares of company stock valued at $47,405,994. 0.08% of the stock is owned by insiders.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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